Barstool Sports Founder Holds to 2017 Stance on Bitcoin

Barstool Sports’ millionaire founder, Dave Portnoy, recently re-tweeted his 2017 video on Bitcoin, saying his view on the asset has not changed.  “For everybody trying to get me in the Bitcoin game, I made this video in 2017,” Portnoy said in a June 19, 2020 tweet. “I still feel this way.” Portnoy’s 2017 sentiment Active on social media, Portnoy has made noise since the start of the COVID-19 pandemic for his comedic stock day trading videos, in which he alludes to his lack of market prowess.  In his 2017 video,…

The Last Time Volatility Was This Low, the Bitcoin Price Crashed 60%

Bitcoin could soon see a massive move as volatility continues to tighten, according to a crucial indicator. Investors, however, remain largely divided over what comes next for the cryptocurrency. Related Reading: A Top Macro Analyst Just Bought Bitcoin For the First Time Ever Bitcoin Is Prepping For a Massive Move The width of the Bollinger Bands on Bitcoin’s daily chart is nearing levels not seen since February earlier this year, prior to the drop from $10,000 to $3,700 in the span of four weeks. The width of the Bollinger Bands,…

Gavin Andresen Casts Doubts on Craig Wright’s Satoshi Claim

Recently released depositions suggest that Gavin Andresen now has doubts that Craig Wright is Bitcoin creator, Satoshi Nakamoto. The depositions, which are connected to Wright’s case against the estate of his alleged business partner, David Kleiman, show that Andresen was asked if he still believed that Wright is Satoshi. Andresen said he did initially believe Wright to be the creator of Bitcoin — or at least one-third of a group calling themselves Satoshi Nakamoto — but later on felt that he had been, in his words, bamboozled. Andresen said: “There…

Bitcoin Is Still Tracing a Textbook Pattern Predicting a Crash to $8,000

It’s clear that Bitcoin is building towards a breakout. The cryptocurrency has converged towards supports in low-$9,000s, with volatility reaching multi-week and multi-month lows. Unfortunately for bulls, a textbook chart pattern is predicting that Bitcoin will break lower from this range, likely to fall towards the $8,000s. Related Reading: BTC Hash Rate Recovers to Pre-Halving Levels, But a Chinese Mine Just Burned Down Bitcoin Wyckoff Distribution Analysis Predicts Drop to $8,000s Richard Wyckoff is a late technical analyst that pioneered multiple forms of analysis. He is arguably best known for his…

Cryptocurrency News From Japan: June 14

This week’s headlines from Japan included research company Xangle releasing a report on Japanese crypto regulation, Binance supporting Japan’s language but not its residents, SBI Holdings turning gift certificates digital with blockchain, and Nomura Holdings opening a crypto custody service with Ledger and Coinshares.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Research outfit details Japanese crypto regulation A new report surfaced last week from research outfit Xangle regarding Japanese digital asset regulation. Citing multiple examples of already-approved assets listed on exchanges, the…

Blockchains Are an Excellent Solution for Privacy, Part 1

Several data violations, like the Cambridge Analytica scandal, have brought forth questions regarding how companies and governments should deal with the data entrusted to them, and they have also increased the search for the development of new technologies to preserve the privacy of companies and users. Consequently, countries and regulators have rushed to set new compliance requirements to deal with user privacy and data collection — like the General Data Protection Regulation in Europe or the General Data Protection Law in Brazil, to name a couple. Parallel to that, there…

Blockchain Bridges, Explained | Cointelegraph

A blockchain bridge provides a connection that allows for the transfer of tokens or data between two different blockchain ecosystems. A significant challenge of blockchains to date is their lack of interoperability. Once a developer builds their decentralized application on any particular platform, they’re generally locked into that platform with no opportunity to leverage any of the benefits of other blockchains. For example, Ethereum has well-documented scalability issues that many developers probably hoped would be solved by now. If they move to another, faster platform, such as EOS, then they…

WisdomTree Tests SEC’s Bitcoin Acceptance Threshold With Latest ETF Filing

Many investment firms have launched crypto exchange-traded funds, but so far, none has found favor with the United States Securities and Exchange Commission. Firms keep trying, though, and this past week, two more tendered applications for crypto ETF-like products — if not pure-play Bitcoin ETFs have emerged.  WisdomTree, an asset manager and ETF specialist, filed an N-1A form registration statement on June 16 with the agency for an ETF that would invest up to 5% of its portfolio in cash-settled Bitcoin (BTC) futures contracts offered by Chicago Mercantile Exchange. WisdomTree…

Gold Bug Schiff Calls Bitcoin Fiat Following Fed Comments

Economist, financial commentator and gold advocate Peter Schiff once again bashed Bitcoin in a tweet, essentially calling it fiat currency — the name for regional currencies, such as the U.S. dollar.  “The Fed gets Bitcoin right,” Schiff said in a June 20 tweet, adding: “It categorizes it with fiat, in contrast to gold that has real value. It sees nothing new in Bitcoin, just in the way it’s exchanged. As confidence in both traditional and crypto fiat is lost, savers will return to gold.” The U.S. Fed classified Bitcoin fiat In…

U.S. SEC Chair Clayton Nominated to Oversee Crypto Regulatory-Heavy NY

United States Attorney General William Barr announced that President Trump will most likely task Jay Clayton as the legal enforcer for a chunk of New York — a state that has historically held a heavy-handed regulatory stance on crypto.  Barr said in a June 19 statement from the Department of Justice, or DoJ: “I am pleased to announce that President Trump intends to nominate Jay Clayton, currently the Chairman of the Securities and Exchange Commission, to serve as the next United States Attorney for the Southern District of New York.”…